Summary of Proposed Investment
Project Number
4844
Company Name
South West Pacific Investments Limited
Date SPI Disclosed
Aug 3, 1995
Country
Vanuatu
Industry
Tourism, Retail and Property
Status
Completed
Sector
Resort Hotel (Including Lodges)
Department
Regional Industry - MAS Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Jan 18, 1996
Signed : Feb 1, 1996
Invested : Feb 22, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Vanuatu: Le Meridien Royal Palms Resort |
| Region | Asia |
Sector
Project No004844
Projected Board DateSeptember 15, 1995
Company NameSouth West Pacific Investments Limited
Technical Partner and/or Major Shareholders
Hotel Properties Limited, Singapore
Le Meridien, France
Project Cost Including proposed IFC investment
Project Cost approximately US$18 million - IFC “A” loan of US$7.1 million.
Location of project and Description of site
Located in Port Vila, the capital of Vanuatu, the property includes a 168 room resort hotel.
Description of Company and Purpose of Project
The Company owns the property which is managed by Le Meridien. The purpose of the project is to upgrade public facilities and add more bungalows on the adjacent island.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental, health and safety issues associated with this project include liquid and solid waste disposal and fire and safety. The sponsor will be upgrading the existing wastewater treatment facility to accommodate the expansion and to ensure compliance with World Bank guidelines. A fire and safety audit will also be undertaken to ensure compliance with World Bank guidelines. Coastal resources will not be affected by this proposal.
The is August 28, 1995 from the Public Information Center.
| Date SPI sent to PIC | 08/03/95 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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